Resistance Breaker? Ideanomics Inc (NASDAQ:IDEX)

Ideanomics Inc (NASDAQ: IDEX) is correcting this morning following a 17% jump in yesterday’s trading session. The stock is nearing a declining trend line along the highs over the last 3 months. If IDEX can close above 3.00 over the next few days there may be some upside ahead.

Market Action

As of 12.41, IDEX stock fell 3.47% to $2.78. The stock has seen a total volume of 18.20 million shares. The stock opened at $2.72 and moved in a range of $2.6100 – 2.8100.

IDEX Issues Q1 Earnings

Ideanomics, Inc. Reports Q1 2021 Financial Results

  • Revenue for the quarter ended March 31, 2021, was $32.7 million and gross profit of $10.8 million.
  • First revenues from WAVE – Ideanomics’ inductive charging business and from Timios, our Title and escrow services company – both businesses were acquired in January 2021
  • $356 million cash at quarter end providing a deep pool of capital for investment in our Ideanomics Mobility & Capital business units
  • Gross profit for first quarter 2021 was $10.8 million which represented a Gross Margin of 33.1%. Gross profit for first quarter 2020 was $44,000.

“Ideanomics is transforming dramatically quarter over quarter,” said Alf Poor, CEO of Ideanomics. “I am both pleased and proud to say that as is stands today the company is the healthiest it has been in close to three years that I have been on board.”

Trader Notes

Share Information

SHARE FLOAT (%)372.77 M (88.90%)

Recent Stock Performance

5-DAY PERF.+7.36%
1-MONTH PERF.+15.90%
3-MONTH PERF.-25.74%
6-MONTH PERF.+138.79%
YTD PERF.+39.20%
1-YEAR PERF.+477.08%

Moving Averages

+/- EMA(20)2.68 (+3.36%)
+/- SMA(50)2.84 (-2.46%)
+/- SMA(200)2.24 (+23.66%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20-77.2869SellChaikin Money Flow-0.1622Sell
MACD3.4144BuyMoney Flow Index50.4441Sell
STOCH (14,3)32.6934NeutralSTOCH RSI0.5750Neutral
UO43.9411SellWilliams %R-67.3066Neutral

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